DUBLIN--(BUSINESS WIRE)--The "UAV Drones Market by Type (Fixed Wing, VTOL, STUAS, MALE, HALE), Payload (Up to 150 and 600 kg), Component (Camera, Sensor), Application (Media & Entertainment, Precision Agriculture), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The said market is expected to grow from USD 17.82 billion in 2017 to USD 48.88 billion by 2023, at a CAGR of 18.32% during the forecast period
Increase in venture funding, rise in demand for drone-generated data in commercial applications, and rapid technological advancements are the key factors responsible for the growth of the UAV drones market. However, security and safety concerns and social issues such as privacy and nuisance concerns are the key factors restraining the growth of the UAV drones market.
The UAV drones market for precision agriculture is expected to grow at the highest CAGR during the forecast period. Drones are useful for agricultural planners. They reduce the time and cost required to conduct an accurate survey, and offer benefits including real-time data collection, high-resolution imagery of farmland, and lower cost compared with other relative techniques. These factors and growing awareness about the benefits of drones over other traditional farming techniques are driving the growth of the commercial drones market for precision agriculture applications.
Camera systems are used in UAVs for continuous video monitoring, investigation, remote surveillance, border security, and protection of critical infrastructure, thermographic inspection of inaccessible buildings, and firefighting and law enforcement applications. The high rate of adoption of cameras for military and commercial applications is a key factor driving the growth of the UAV drones market for cameras.
North America is expected to hold the largest share of the UAV drones market in 2017. However, the market in APAC is expected to grow at the highest CAGR owing to the increase in the number of commercial drones for precision agriculture, inspection and monitoring, and surveying applications in this region. The ongoing tensions among the countries over the South China Sea and Doklam and the growing concerns of terrorism and security are expected to drive the use of military drones in this region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 UAV Drones Market, By Drones Type
7 UAV Drones Market, By Payload
8 UAV Drones Market, By Component
9 UAV Drones Market, By Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
- Alcore Technologies
- Bae Systems
- Delta Drone
- Elbit Systems
- General Atomics Aeronautical Systems (GA-ASI)
- Ing Robotic Aviation
- Israel Aerospace Industries (Iai)
- Lockheed Martin
- Nimbus SRL
- Northrop Grumman
- VTOL Technologies
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